Ethereum Foundation Revamps Leadership Amid Market Volatility
The Ethereum Foundation has appointed Hsiao-Wei Wang and Tomasz Stańczak as co-executive directors, replacing Aya Miyaguchi, who becomes Foundation President. This leadership change aims to steer Ethereum in a new strategic direction amid a declining market, with Ethereum's price nearing $2,000. Wang has extensive experience with Ethereum’s research team, contributing to key initiatives like Ethereum 2.0, while Stańczak, founder of Nethermind, brings engineering expertise. The new directors will focus on technical R&D and community development while maintaining Ethereum's core values. Ethereum's price has dropped from approximately $3,700 in January to around $2,210, influenced by a recent Bitcoin price crash and declining on-chain activity, with transaction volumes and active addresses also decreasing significantly.
